NFCU Auto Loan Pre-Approval 60 day limit

Hey guys, got my Auto loan pre-approval back in October and I ordered the car. My loan has a 60 day pre approval period. I talked to the Volvo Customer Service this week and they said the VIN number will be available on 12/3/12 since that is when my car is scheduled to start being built at the factory...

Does anyone know if NFCU will re-pull credit in December when I use their "pre-approved" check for 45k at the dealership?

Re: NFCU Auto Loan Pre-Approval 60 day limit

I'm looking for a new/used card for my wife and I was thinking about going through Navy Federal for financing. How does it work when you receive the pre-approved check from them and go to the dealership to purchase the car? What happens to the excess funds if the car cost less than the amount approved on the check? Thanks.

Re: NFCU Auto Loan Pre-Approval 60 day limit

Nfcu will only draft what you say to the dealershop. The packet you get with the draft check tells you not to disclose your preapproved amount to the dealership. Furthermore they pay the dealer off the VIN and then you have a full 90 days to get all of the paperwork sent back in.

I did an auto refi with them in march and it was pretty painless. The only issue I had was that I kept getting requests to forward the car title to them in Virgina... I had to call like 3 times just to make sure they understood that my state was not a title holding state.

Re: NFCU Auto Loan Pre-Approval 60 day limit

Web,I had a somewhat similar situation. I was approved for the 60 days, I waited 30 days to actually buy the truck, but the dealer messed up the check process and Navy returned it because it was improperly endorsed by the dealer...I noticed after about 2 weeks it hadn't shown up online and called the dealer after speaking with a Navy rep.... Fast forward a few weeks and multiple phone calls and it passed the 60 days. Navy had to resubmit the application and they DID repull credit but I think it was soft because it neer showed up on EQ but I got a score notice from them with my new packet.. I was kinda a mess, but it all worked out in the end with a .99% rate :-)

Re: NFCU Auto Loan Pre-Approval 60 day limit

Wow thanks for sharing. Ill make sure the dealer has the phone number to be able to call navy fed if they have any questions. My car has to be paid before I fly to Europe to go get it so I cant afford for the dealership to screw up!

I handed the check over on Saturday. On Tuesday my husband and I had to go back to the dealership because we missed where we were supposed to sign. Anyways; we did that and so far no re pull! Keeping my fingers.crossed!

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